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Insurnace Definitions for SuperHero's

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Questions Answers
1. This is the maximum amount of money you pay annually. This is important because it limits the total amount you pay each calendar year. Out of Pocket
2. This is a fixed dollar amount that you pay before your health insurance starts to make payments for covered medical services. Deductible
3. You may have to pay a percentage of medical expenses after the deductible amount is met. Coinsurance
4. You pay a fixed dollar amount when a medical service is received. Copay
5. This is the amount of money you pay for your insurance plan on a regular basis. If you purchase your own health insurance plan, you may have the option of paying your premium annually, quarterly o rper semester. Premium
6. You would get lower out of pocket expenses because your insurance plan is contracted with your doctor or hospital. In Network
7. You would have increased fees that you’ ll be responsible for since your doctor or hospital is not contracted with your plan. Out of Network

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